Result of General Meeting

Result of General Meeting

Albion   Development  VCT  PLC  (the  "Company")  announces  that  both  of  the
resolutions put to the shareholders at the Company's General Meeting held at the
offices  of  Albion  Ventures  LLP,  1 King's  Arms Yard, London, EC2R 7AF on 8
December 2010 were duly passed.

Resolutions 1 and 2 related to Special Business, as set out below.  Resolution
number 2 was a special resolution.

1)      THAT the directors be generally and unconditionally authorised in
accordance with section 551 of the Companies Act 2006 (the "Act") to allot
Ordinary and D shares with a nominal value of 50p pence per share in the Company
up to an aggregate nominal amount of £2,135,742 provided that this authority
shall expire on 8 December 2011, or, if earlier, the conclusion of the next
annual general meeting of the Company but so that the Company may, before such
expiry, make an offer or agreement which would or might require shares to be
allotted or rights to subscribe for or convert securities into shares to be
granted after such expiry and the directors may allot shares or grant rights to
subscribe for or convert securities into shares pursuant to such an offer or
agreement as if this authority had not expired.

2)      THAT subject to and conditional on the passing of resolution number 1,
the directors be empowered, pursuant to section 570 of the Act, to allot equity
securities (within the meaning of section 560 of the Act) for cash pursuant to
the authority conferred by resolution number 1 as if section 561(1) of the Act
did not apply to any such allotment, provided that this power shall be limited
to the allotment of equity securities:

(a)  in connection with an offer of such securities by way of a rights issue;

(b) pursuant to any Dividend Reinvestment Scheme introduced or operated by the
Company; and

(c) otherwise than pursuant to paragraphs 2(a) and 2(b) above up to an aggregate
nominal amount of £2,135,742,

and that this authority shall expire on 8 December 2011 or, if earlier, the
conclusion of the next annual general meeting of the Company, save that the
Company may, before such expiry, make an offer or agreement which would or might
require equity securities to be allotted after such expiry and the directors may
allot equity securities in pursuance of any such offer or agreement as if this
power had not expired.

This power applies in relation to a sale of treasury shares as if all references
in this resolution to an allotment included any such sale and in the first
paragraph of the resolution the words "pursuant to the authority conferred by
resolution number 1" were omitted in relation to such a sale.




"Rights issue" means an offer of equity securities to holders of shares in the
capital of the Company
on the register on a record date fixed by the directors in proportion as nearly
as may be to the respective numbers of ordinary shares held by them, but subject
to such exclusions or other arrangements as the directors may deem necessary or
expedient to deal with any treasury shares, fractional entitlements or legal or
practical issues arising under the laws of, or the requirements of any
recognised regulatory body or any stock exchange in, any territory or any other
matter.

Further  information regarding  the Company  and its  activities is available at
www.albion-ventures.co.uk



Albion Ventures LLP - tel: [phone]

Company Secretary

Albion Development VCT PLC








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Source: Albion Development VCT PLC - Ordinary Shares via Thomson Reuters ONE

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